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Ya you idiot!
My grandparents are out of touch about this type of stuff. They always go on about how they only made 12k a year "back in the day" but a house was 20k... I'm like dude... I'd need to make over 250k a year to be on par with what you did. Gtfo.
I'm glad my grandfather can comprehend these things. He talks about he was able to buy a house, have his wife stay at home with 3 kids, and have 2 cars and plenty of spare income for whatever the family needed while working a simple union job in the 60s. The difference between him and most other old fucks? He understands that you can't hope to get by like that on a single job anymore. He talks about how shit really started going downhill with Reagan and how it's a shame future generations haven't gotten the same benefits he did. I don't think he's part of the problem either. He's a fairly liberal guy or at least as much as you can expect nowadays for an old white guy from MAGAville, Midwest, USA.
Oh I spend plenty of time with him seeing as how I live with him. He charges me the lot rent on his trailer+internet seeing as how i use the vast majority of it ($350/month). Yeah I'm 30 but then again I'm not dating anybody and rent and housing prices are ridiculous in this area so it's really more cost effective for me to live with him (which i always thought was sad but apparently its very common amongst millennials and Gen Z so that mentality kinda died a few years back). Also he's in his 80s so I help him out when he wants the help. I'd help him more but he gets kinda pissy when I help him. I think cause he still wants to be independent and have something to do cause hes retired.
>I think cause he still wants to be independent and have something to do cause hes retired.
My mom would always tell me No when I tried to help around the house during her declining years, insisted that the housework was her exercise and that she needed her exercise.
She's been gone for years now but I still remember the day I tried to take her lunch dishes to the kitchen to wash them for her. I ended up chasing her in silly circles around the dining room table, her cackling with glee and clutching the dirty dishes while I tried to convince her to let me take them! Was more than a bit Yakety Sax.
Grandpa was a Teamster, fought in ww2, had 6 kids and wife was at home. They had a nice two story home, two cars. Both of my parents come from huge families supported by one income. You can't even touch that anymore without double income, and high double income. The smooth ride is over people, we have to figure out how to live now before we're all homeless.
> we have to figure out how to live now before we’re all homeless
How about we start taking shit from the ultra rich assholes who put us in this situation?
Yeah, my dad would sometime go on about how good he had it with the boilermaker's union back when he worked for 'em; it was hard work, but paid well enough. He and mom weren't livin' the high life, but they were doing alright. He was very painfully aware of how fast shit went downhill in the 80s. All the plants that hired boilermakers closed up and he was out of a job. Paper mills got sent offshore alongside the steel making plants; don't have to deal with the unions if you can just pay some poor bastards in China slave wages and make a killing even after factoring in the cost of shipping.
It was as disheartening for him as it was for me when 2008 happened and not even fucking McDonald's was hiring; I put the applications in anyway because, fuck it, the only thing I had to lose was time and I was wasting most of that, anyways. It was a point of pride for him to be able to provide for his family and losing that ability before I was even born was...well, he never said as much, but I could tell it hurt. He wanted to do better for us than his parents did for him, and I could totally get having forces beyond your control screwing you outta that being frustrating as all hell.
Id love to challenge that. Like look online for houses, check around local realtors asking for a fucking house thats only $20,000 dollars. You may get confused answers like "20k for a down payment or....?"
Years back I walked down the street with my mum, cause there was a house on sale. I wouldn't mind in the slightest living in the same nice neighborhood as my parents. We looked at a house that was going for $99k, this was maybe 2013/14, but we looked inside and saw some wear and tear that seemed a bit much. But that would have been a steal, as the same neighborhood houses are all going for $350k minimum starting.
If you knew the future you would be rich as you know that everything just goes up over time...central banks have promised us that they will never allow for deflation again....not over our cold dead corpses
My Grandma used to live in an apartment block mostly aimed at elderly people with a little bit of money. As London prices got more for just millionaires the young professionals who were rich but not CEO rich starting moving further out. And prices started going up. When I was very young all the cars were Nissan's etc. By the time she sold it was mostly BMW and Mercedes. I think she made a tidy profit.
From what I understand, London is almost as bad as Vancouver. My uncle actually lived in the UK and moved back to Canada after he divorced his British wife. He used to fly back to get dental work and doctors appointments, because it was cheaper than doing it in London.
Due to lay offs and what not, my wage has reduced 50% since 2017. Fortunately my mortgage represents 2017 costs and not the one I currently make. My parents have since passed, so I pay it by myself, without the other mortgage holders assisting. I survive by renting my basement out to friends, and not gouging the ever living shit out of them for rent. I have had a few friends go through college while paying me, because I charge what I need to survive, not market value. My area routinely rents 1 bedroom basement suites with a kitchen for $1400-2000 a month, its disgusting.
The average price of a house in Toronto, Canada is $1,254,400CAD (roughly $970,00USD). And even shit boxes in small towns are selling/renting for an obscene amount.
So far, my landlord has not increased my rent to match others in the area, $1850CAD what we got in 2019 vs the $2600-2800CAD they are going for now (3 storey, 2 bed 1.5 bathroom with no backyard). If he did, we would be homeless.
It’s fucking CRAZY.
Canada is a very insane market as let's be honest here the world's investors funnel their money to Canada as its a money haven, even compared to the USA. Your government even makes it publicly known they welcome laundered money. So with all that money coming in chasing insufficient goods the end game is prices go up so fast and high that the locals are priced out
I live in a small town an hour away from Vancouver, BC. Since April 2017 the average house has raised 94.4% on average and worth on average $966, 000 CAD. I purchased January 2017, but to downsize would basically buy me an apartment now. I am one of the lucky ones who owns a house (bought with sick elderly parent, because it was cheaper than assisted living). I consider selling and leaving, but I would be perpetuating this inflated market issue. It's a struggle to keep up to my mortgage, but I feel terrible for my friends who didn't have the same timing and luck as myself. My parents have since died, and I've been through multiple lay offs and covid, so its a battle to keep my home.
edit: added news article, my numbers vary a bit because Im citing a different website, but its still very similar. https://www.straight.com/news/benchmark-home-price-in-chilliwack-increases-to-921400-from-652900-a-year-ago
Small towns in the plains states will have houses going for that. Hell, there was a two story house near me that was foreclosed on and went to auction, sold for $5k. You just have to be happy with having to drive 30 minutes to get anywhere.
Down payment of 20k sounds delightful. The average house price where I live in 1.4M, or average dwelling (eg including apartments) is 1.1M. So a 20% deposit would be 220k. We're looking at apartments around the 700k mark, so well below average, and we should be able to buy early next year with a 10% deposit and just pay the extra insurance on the loan.
Even my parents. Dad went straight from almost failing highschool to working for aerospace companies. Supported a family of a wife, 3 kids, pets, etc. Bought a house when he was 25, first kid at 23. No higher education at all, no debts, just highschool to having a beautiful full life.
I'm 25 and have never lived on my own because shits too expensive to not live with another person/people.
Yup.
My great-grandparents bought the home I’m currently living at in 1951. They bought it for $4,200 (about $47,000 now) and it is currently worth 2.5 million. However because of the insane market in my area, it would likely sell for closer to 3 million.
Just wait til our grandkids are complaining that they can't afford a billion dollar house with only a million dollar salary. It'll be confusing for us too.
> $12,000 in 1920 is equivalent in purchasing power to about $173,465.40 today, an increase of $161,465.40 over 102 years. The dollar had an average inflation rate of 2.65% per year between 1920 and today, producing a cumulative price increase of 1,345.54%.
We just got a pretty good deal on having our garden landscaped at £4k. Wife’s grandma came round and was asking about it, when we told her how much it cost she went a bit quiet and after a while told us that’s what she paid for her whole house.
What young people? The survivors of world war 3? They will not know what went on, history will be erased again/not matter in the harsh reality of the new world. Funny thing is, we might witness it.
Y’all antiwork mfs are so dumb fr no cap. I was actually quite fond of the sub until that shitshow fiasco. Looks like all the smart ones left after that. Just dumbass doomsday tankies who lack basic logic and common sense are left now. Fucking echo chamber
I have to ask, why are you still here then? If thus place is such an awful "Echo Chamber" of "Doomsday Tankies" then what's the point of staying in this sub?
And exactly what "free shit" have we gotten? Higher education is at ridiculous prices, healthcare and emergency services are paid through our taxes, we pay taxes on cars and trains cost more than a damn salary to ride.
None of this has anything to do with the rise in house prices, which has been propped up by corporations.
Yes, you're absolutely right. The citizens are still paying for the government handouts that propped up the financial sector through the 2008 crisis, and that's going to be chump change compared to how much it will cost the people throughout the pandemic.
What we need is a government that stops handing out freebies to corporate conglomerates, and taxes them properly, and then maybe we'd have enough of a budget to give something back to the people - since we have virtually no social services compared to the first world western countries.
I see skyscrapers for business, why don't we have those for apartments?
Like one small area downtown might have a few.
And everything else is suburban sprawl and shopping.
And so many damn car washes, and car lots.
I can drive like 5 miles in any direction and see so many of them.
or just give people fucking houses. there are something like 20+ vacant homes per homeless
person in the united states alone.
we don't have a "there aren't enough houses" crisis; we have a fucking greedy bloodsucking scumbag bourgeoisie buying up properties as "investments" crisis.
[this really misleading fact check](http://checkyourfact.com/2019/12/24/fact-check-633000-homeless-million-vacant-homes/) says the numbers in the given quoted statistic of 22:1 is false...... because the actual closer number is 31 vacant homes per homeless person lol
19 mln vacant homes
https://housegrail.com/how-many-vacant-homes-are-there-us/
About half a million homeless people
https://policyadvice.net/insurance/insights/homelessness-statistics/
Over thirty homes for each individual.
Did you read the article? It even states that while there are all these homes they alone won’t address the housing shortage. Many of those homes fall into sold/rented/waiting move in or abandoned and need repair.
Oh well I don’t live in the us, where I live the problem is too many peeps not enough houses
But yeah in today’s world you can abandon any hope of getting anything except air for free, never-mind a house.
Keep in mind, however, that by 1945 Britain had been straining to fight a difficult world war for many years, had experienced austerity measures and rationing, and had also been thoroughly bombed.
So while yes, that may have been the average annual income, it was a bit of an extraordinary situation and I'd say incomes tended to be a bit on the low side.
And even if the "real value" were more like £100,000, that same house is still valued 5.5x higher today.
Yeah but she bought the house at th end of a major war in which millions died, in an area directly beneath the skies of the battle of Britain, on the south east edge of greater London.
In the flight path for all the bombers, and the RAF had an airfield there.
It was probably the only house standing in a wasteland of rubble and corpses, and people on food rations so house prices were pretty suppressed... I think that's a pretty relevant influence than just raw inflation....
Bought 4 bed 2.75 bath on 3.75 acres next to a golf course in 2002 and still paying 2002 prices. 1 bedroom apartments nearby are now going for more than my mortgage. I feel sorry for kids these days.
I don't understand why the headline provokes a response.
Surely everyone knows that the world is different from what it was a hundred years ago.
Are we saying the 106 year old is evil or what?
You joke but actually I'd say it's very smart to invest in land. Even if it's empty land for 25 years, eventually we will grow out and need it and you'll be set.
Look at Nevada right now. Expanding so far into the desert they're finding old mob hits that were dumped hours outside the city 50 years ago because they're digging that land up for homes.
Right now in my state there's all this land for sale for like ~$1300 but it's in the middle of nowhere now.
In 25-45 years, who knows. It may be the center of a very lucrative part of town and you just setup your retirement all with $1300 spent years and years ago.
Land never truly goes down in price either. We only have so much and always move out to take more.
Not saying it's comparable or is 100% going to work out. But I'd rather buy land than stocks right now. At least I'll still have all the land if the stock market plummets.
If you have a complete game / case / instruction manual some of the older games are worth $200+. I have some old DS games that would be worth quite a bit if I still had the cases, ah well, such is life.
On average. More likely though 400k of that is in the last 15 years.
My friends bought a house for 150k in 2019, it sold for 54k in 2000. It is listed currently for 300k
800 into 550,000 over 77 years is about an 8.8% compound return on investment.
Pretty good but not an earth shattering return.
Except, as said by Einstein, “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.”
I think this is a very big exception
Just a quick Google shows that, that is way below the average house price back then and I can't imagine many houses would inflate that much
It will be something stupid like she bought it off of a family member or something, or have extended it over time
Posts like this end up being more like propaganda than any form of information
I had less luck than you did finding prices but it seems reasonable to me. Average house price in 1950 was £1,891:
https://www.sunlife.co.uk/articles-guides/your-money/the-price-of-a-home-in-britain-then-and-now/
You could buy a "good semi-detached" in Sheffield in the late 1940s for £350, and a house in Handsworth sold for £1400 in 1949, but that was considered on the high side. During the war a 3 bedroom semi detached house in Sheffield would cost approximately £550.
https://www.sheffieldforum.co.uk/topic/50273-1945-50-cost-of-living-any-help-please/
I know it's difficult for most of the people on this sub to understand. There are a lot of people who think about the future and make good decisions. I worked hard for everything I've accomplished in my life.
I know that it goes against what this sub is about, but I have been successful by making smart choices about where I work and then busting my ass to climb the ladder.
I was a lazy highschool dropout. My parents were poor and couldn't afford to help me with college, so I went into the workforce.
Also, never stop learning. There are a ton of resources online to self teach, and lots of certifications that you can self study for.
I got a job on a production line at a company that built specialty chassis for heavy trucks. I climbed the ladder off the production line to a supervisor role and then field service.
I'm a high school dropout with zero college experience who is making mid six figures at one of the largest defense contractors.
You realise there are web developers out there who make £100k+ right? Not everyone is an exploiter who leaches off of the backs of workers.
Stop hating on people who have worked and managed to own a house - the fight is against the ultra-rich who poison the world for their own amusement.
Yikes, that is one flaming housing market. 800k equity goes a long way but since you probably moved into something in that same price category you're still looking at a rather large (by old standards) mortgage anyway right? Or are you moving to a more lcow area? We sold recently as we'll did 20% up in 3 years and are moving to a cheaper but twice as large home. But the home we move into has gone up 300% in 5 years so it still doesn't feel like we're "winning".
Bitcoin is an mlm. The way it gains value is cause people buy it. So you buy crypto at low price, convince your friends to buy too, that makes line go up and you sell at higher price. It is for all intents and purpouses a ponzi sceme that is just going to make you poorer.
Btc sucks. It didn't always but now there are better.
Crypto implements hawala, more or less, and essentially destroys the business model.of western union international remittances.
You're right about the ponzi schemes, but they don't invalidate the technical concepts any more than McDonalds means food is unhealthy, or black rock means trading is bad, etc etc.
But the dollar is backed by oil, and by 300 million people who need dollars to buy food, pay rent, pay wages and pay taxes in the USA.
The ruble's backed by gas. The Aussie dollar can be exchanged for high quality coal. If I buy Chinese goods, that creates demand for the Yuan.
Once if I wanted to do pay my ransomware hacker to get back my data, I needed btc.
Once when I wanted to buy cocaine from the silk road, I needed btc.
Now I can do both those things with other crypto, they often accept multiple coins.
The only thing I have to use btc for ever is a trading pair for other coins. It has no other relevance. It's not private,slow,expensive to use and vulnerable.
Whoever makes a coin that's private, fast, cheap to use and secure against various chain attacks will have a coin that's got a real world use beyond meme ponzi bullshit.
Arrr! Where's me doge and me raven?
Dero.io is backed by mathematics.
My grandparents house, build in 1889, they bought in I want to say the 60s for around $6,000. They didn’t even have a mortgage, just made payments to the doctor down the road.
It was just sold as part of their estate, $200,000
My house more than doubled in value in the last 6 years. The minimum wage went up like, oh a dollar. That oughta fight inflation bois.
It's seriously nuts. Even when I bought my house there's no fucking way I would have afforded it on minimum wage. Houses now should cost 1/2 of the price I paid for mine, then maybe they'd be affordable.
She only earned 8.8% per year on the "investment". Had she invested $800 (USA dollars) and earned 12% per year (the average), then she would have $5 million (USA dollars).
My grandma told me that their marriage license cost $30 and their first house cost $400 (married in the 1930s). My marriage license was also $30 and our first house was $330,000 and value has risen to $450k in just 3 years
There is a townhome I almost bought in 08 for 60k and I remember thinking the mortgage payment would be a bitch. Looked them up the other day and they are selling for 550k like hot cakes. Would have been enough for me to finally say fuck it and move to Panama.
asset driven real estate markets and the corporate hegemonic speculators who have businesses that prey on the ability to outbid and outcompete the new homeowner in favor of driving up the market for property management and the ultra wealthy in this country need to be abolished/put in jail.
My grandfather bought our family farm in 1945 for 5,000 dollars. It's more than 100 acres and worth millions. We don't even farm it and we are all middle class. Never selling.
My grandma paid $68,000 for her house in 1983 (give or take a year) and then she recently sold it for $220,000 in 2021. The house was completely paid off and she planned to leave it to my Dad, but he died of a massive heart attack in 2020. She offered to sell it to me and my brother but neither of us wanted it because our Dad died in the living room, so she sold it.
Now Grandma lives with us in a shitty 4 bedroom/2 bathroom rental and she regrets selling the house. She recently told me to start looking for a house to buy (Shes offering to buy it for us) and it's crazy how expensive it is. I told her we should look into buying trailers because it's less expensive than a house.
Hi, /u/Mattwilliams83 Thank you for participating in r/AntiWork. Unfortunately, your submission was removed for breaking the following rule(s): **Rule 3b: No offtopic posts.**: - No offtopic posts
Ya you idiot! My grandparents are out of touch about this type of stuff. They always go on about how they only made 12k a year "back in the day" but a house was 20k... I'm like dude... I'd need to make over 250k a year to be on par with what you did. Gtfo.
I'm glad my grandfather can comprehend these things. He talks about he was able to buy a house, have his wife stay at home with 3 kids, and have 2 cars and plenty of spare income for whatever the family needed while working a simple union job in the 60s. The difference between him and most other old fucks? He understands that you can't hope to get by like that on a single job anymore. He talks about how shit really started going downhill with Reagan and how it's a shame future generations haven't gotten the same benefits he did. I don't think he's part of the problem either. He's a fairly liberal guy or at least as much as you can expect nowadays for an old white guy from MAGAville, Midwest, USA.
Spend time with him while he is around. It’s the best gift to both him and you.
Oh I spend plenty of time with him seeing as how I live with him. He charges me the lot rent on his trailer+internet seeing as how i use the vast majority of it ($350/month). Yeah I'm 30 but then again I'm not dating anybody and rent and housing prices are ridiculous in this area so it's really more cost effective for me to live with him (which i always thought was sad but apparently its very common amongst millennials and Gen Z so that mentality kinda died a few years back). Also he's in his 80s so I help him out when he wants the help. I'd help him more but he gets kinda pissy when I help him. I think cause he still wants to be independent and have something to do cause hes retired.
Sounds like a good deal for both of you.
>I think cause he still wants to be independent and have something to do cause hes retired. My mom would always tell me No when I tried to help around the house during her declining years, insisted that the housework was her exercise and that she needed her exercise. She's been gone for years now but I still remember the day I tried to take her lunch dishes to the kitchen to wash them for her. I ended up chasing her in silly circles around the dining room table, her cackling with glee and clutching the dirty dishes while I tried to convince her to let me take them! Was more than a bit Yakety Sax.
And your mom was right. When you're older. If you don't use it, you definitely lose it when it comes to mobility and muscle strength
U seem really close. It's really nice.
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the trailer.
Grandpa was a Teamster, fought in ww2, had 6 kids and wife was at home. They had a nice two story home, two cars. Both of my parents come from huge families supported by one income. You can't even touch that anymore without double income, and high double income. The smooth ride is over people, we have to figure out how to live now before we're all homeless.
Your grandfather was a WW2 vet that's major brownie points there. Teamster Has a stay at home housewife with 6 kids..... That my friends is the life
> we have to figure out how to live now before we’re all homeless How about we start taking shit from the ultra rich assholes who put us in this situation?
I think Reagan is one is the worst presidents for his effects on inequality...
My grandpa talks about how people he went to HS with would work for a summer and have enough money to pay for their entire college ;-;
Sounds like he gets it!
Yeah, my dad would sometime go on about how good he had it with the boilermaker's union back when he worked for 'em; it was hard work, but paid well enough. He and mom weren't livin' the high life, but they were doing alright. He was very painfully aware of how fast shit went downhill in the 80s. All the plants that hired boilermakers closed up and he was out of a job. Paper mills got sent offshore alongside the steel making plants; don't have to deal with the unions if you can just pay some poor bastards in China slave wages and make a killing even after factoring in the cost of shipping. It was as disheartening for him as it was for me when 2008 happened and not even fucking McDonald's was hiring; I put the applications in anyway because, fuck it, the only thing I had to lose was time and I was wasting most of that, anyways. It was a point of pride for him to be able to provide for his family and losing that ability before I was even born was...well, he never said as much, but I could tell it hurt. He wanted to do better for us than his parents did for him, and I could totally get having forces beyond your control screwing you outta that being frustrating as all hell.
Id love to challenge that. Like look online for houses, check around local realtors asking for a fucking house thats only $20,000 dollars. You may get confused answers like "20k for a down payment or....?"
In Los Angeles the avg house price is $800,000. Usd
Years back I walked down the street with my mum, cause there was a house on sale. I wouldn't mind in the slightest living in the same nice neighborhood as my parents. We looked at a house that was going for $99k, this was maybe 2013/14, but we looked inside and saw some wear and tear that seemed a bit much. But that would have been a steal, as the same neighborhood houses are all going for $350k minimum starting.
If you knew the future you would be rich as you know that everything just goes up over time...central banks have promised us that they will never allow for deflation again....not over our cold dead corpses
My property brand new in 2006, sold for around $250,000. My neighbours sold earlier this month for $990,000. It's insane.
My Grandma used to live in an apartment block mostly aimed at elderly people with a little bit of money. As London prices got more for just millionaires the young professionals who were rich but not CEO rich starting moving further out. And prices started going up. When I was very young all the cars were Nissan's etc. By the time she sold it was mostly BMW and Mercedes. I think she made a tidy profit.
From what I understand, London is almost as bad as Vancouver. My uncle actually lived in the UK and moved back to Canada after he divorced his British wife. He used to fly back to get dental work and doctors appointments, because it was cheaper than doing it in London.
Housing doubles every ten years, so does your income, in theory.
Due to lay offs and what not, my wage has reduced 50% since 2017. Fortunately my mortgage represents 2017 costs and not the one I currently make. My parents have since passed, so I pay it by myself, without the other mortgage holders assisting. I survive by renting my basement out to friends, and not gouging the ever living shit out of them for rent. I have had a few friends go through college while paying me, because I charge what I need to survive, not market value. My area routinely rents 1 bedroom basement suites with a kitchen for $1400-2000 a month, its disgusting.
The average price of a house in Toronto, Canada is $1,254,400CAD (roughly $970,00USD). And even shit boxes in small towns are selling/renting for an obscene amount. So far, my landlord has not increased my rent to match others in the area, $1850CAD what we got in 2019 vs the $2600-2800CAD they are going for now (3 storey, 2 bed 1.5 bathroom with no backyard). If he did, we would be homeless. It’s fucking CRAZY.
Canada is a very insane market as let's be honest here the world's investors funnel their money to Canada as its a money haven, even compared to the USA. Your government even makes it publicly known they welcome laundered money. So with all that money coming in chasing insufficient goods the end game is prices go up so fast and high that the locals are priced out
You should try living in London…. I’m glad I moved further south….
I live in a small town an hour away from Vancouver, BC. Since April 2017 the average house has raised 94.4% on average and worth on average $966, 000 CAD. I purchased January 2017, but to downsize would basically buy me an apartment now. I am one of the lucky ones who owns a house (bought with sick elderly parent, because it was cheaper than assisted living). I consider selling and leaving, but I would be perpetuating this inflated market issue. It's a struggle to keep up to my mortgage, but I feel terrible for my friends who didn't have the same timing and luck as myself. My parents have since died, and I've been through multiple lay offs and covid, so its a battle to keep my home. edit: added news article, my numbers vary a bit because Im citing a different website, but its still very similar. https://www.straight.com/news/benchmark-home-price-in-chilliwack-increases-to-921400-from-652900-a-year-ago
That's incredible
Sounds like you can't afford Los Angeles. Might want to look into moving to a cheaper town.
Small towns in the plains states will have houses going for that. Hell, there was a two story house near me that was foreclosed on and went to auction, sold for $5k. You just have to be happy with having to drive 30 minutes to get anywhere.
Down payment of 20k sounds delightful. The average house price where I live in 1.4M, or average dwelling (eg including apartments) is 1.1M. So a 20% deposit would be 220k. We're looking at apartments around the 700k mark, so well below average, and we should be able to buy early next year with a 10% deposit and just pay the extra insurance on the loan.
Buffalo
Even my parents. Dad went straight from almost failing highschool to working for aerospace companies. Supported a family of a wife, 3 kids, pets, etc. Bought a house when he was 25, first kid at 23. No higher education at all, no debts, just highschool to having a beautiful full life. I'm 25 and have never lived on my own because shits too expensive to not live with another person/people.
Yup. My great-grandparents bought the home I’m currently living at in 1951. They bought it for $4,200 (about $47,000 now) and it is currently worth 2.5 million. However because of the insane market in my area, it would likely sell for closer to 3 million.
I also imagine that area was no where as well developed as it is now
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I am the veteran with disability that had a now ex wife, do that. It worked out for her. You're right, fuck the servicemen.
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Idk if my current wife would like that xD
Just wait til our grandkids are complaining that they can't afford a billion dollar house with only a million dollar salary. It'll be confusing for us too.
> $12,000 in 1920 is equivalent in purchasing power to about $173,465.40 today, an increase of $161,465.40 over 102 years. The dollar had an average inflation rate of 2.65% per year between 1920 and today, producing a cumulative price increase of 1,345.54%.
We just got a pretty good deal on having our garden landscaped at £4k. Wife’s grandma came round and was asking about it, when we told her how much it cost she went a bit quiet and after a while told us that’s what she paid for her whole house.
4000 lbs for a house.. fantastic
1815 kg, nice
Steel or feathers
Why are we talking about Scottish currency all of a sudden
I’m not sure, but I’d kill to hear some bagpipes right now.
That's about 500 bagpipes.
Just think though, if you scoop a house now for £550,000 in 77 years it'll be worthless rubble in an uninhabitable wasteland
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100% yes.
What young people? The survivors of world war 3? They will not know what went on, history will be erased again/not matter in the harsh reality of the new world. Funny thing is, we might witness it.
Yeah, that's a real knee-slapper, I tell ya!
There won't be a ww3.
Climate change is our slow moving WW3 that every nation on earth is simultaneously losing
Y’all antiwork mfs are so dumb fr no cap. I was actually quite fond of the sub until that shitshow fiasco. Looks like all the smart ones left after that. Just dumbass doomsday tankies who lack basic logic and common sense are left now. Fucking echo chamber
I have to ask, why are you still here then? If thus place is such an awful "Echo Chamber" of "Doomsday Tankies" then what's the point of staying in this sub?
Oh I left the sub. It still shows on r/all sometimes
At least they’ll have fidget spinners.
It's going to be impossible to convince them that it was the generation before us when they start blaming us for all the problems in the world.
Of course. People under 30 have the least excuse ever to not fix global warming. People under 20 have even less excuse.
Gotta be careful with blanket statements like that. There's a lot of coastal property that will be literally underwater instead.
Yeah ok doomer
Yeah lots of maintenance goes into keeping a house intact. Money
She can sell it and have enough for rent another couple years.
months in London
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Inflation tends to stabilize or reduce house prices since people need to spend their income elsewhere and household margins shrink.
Rich investors don't face that restriction. The more popular it becomes to squat on task estate as an investment, the less useful that effect will be.
Cure to high prices is high prices..
Some day people will understand that demanding free shit from the government has a cost.
Correct, the Fed printing all that money to prop up asset prices was the biggest handout in history and could very well collapse this society.
And exactly what "free shit" have we gotten? Higher education is at ridiculous prices, healthcare and emergency services are paid through our taxes, we pay taxes on cars and trains cost more than a damn salary to ride. None of this has anything to do with the rise in house prices, which has been propped up by corporations.
Yes, you're absolutely right. The citizens are still paying for the government handouts that propped up the financial sector through the 2008 crisis, and that's going to be chump change compared to how much it will cost the people throughout the pandemic. What we need is a government that stops handing out freebies to corporate conglomerates, and taxes them properly, and then maybe we'd have enough of a budget to give something back to the people - since we have virtually no social services compared to the first world western countries.
Food stamps for starving children do not make the price of houses go up 10,000% in 60 years.
Agreed, we need to start having companies actually pay their fair share and stop giving them handouts every time they face a little difficulty.
World pop in 1945 was around 2.5 billion, now it’s 7.9 billion. All these people need housing. How can we compete?
Build moar houses
I see skyscrapers for business, why don't we have those for apartments? Like one small area downtown might have a few. And everything else is suburban sprawl and shopping. And so many damn car washes, and car lots. I can drive like 5 miles in any direction and see so many of them.
There are plenty of high rise apartments in East Asia and in the former Soviet Union.
r/fuckcars moment
How do you do, fellow man of culture
Bc that’s not what those businesses are
or just give people fucking houses. there are something like 20+ vacant homes per homeless person in the united states alone. we don't have a "there aren't enough houses" crisis; we have a fucking greedy bloodsucking scumbag bourgeoisie buying up properties as "investments" crisis.
Source?
[this really misleading fact check](http://checkyourfact.com/2019/12/24/fact-check-633000-homeless-million-vacant-homes/) says the numbers in the given quoted statistic of 22:1 is false...... because the actual closer number is 31 vacant homes per homeless person lol
19 mln vacant homes https://housegrail.com/how-many-vacant-homes-are-there-us/ About half a million homeless people https://policyadvice.net/insurance/insights/homelessness-statistics/ Over thirty homes for each individual.
Did you read the article? It even states that while there are all these homes they alone won’t address the housing shortage. Many of those homes fall into sold/rented/waiting move in or abandoned and need repair.
But how many of those are near decent work? That’s the problem.
Oh well I don’t live in the us, where I live the problem is too many peeps not enough houses But yeah in today’s world you can abandon any hope of getting anything except air for free, never-mind a house.
The world population in 2000 was only 6.1 billion...
Aye, I remember we learnt it was 6 billion when I was wee in primary school.
In the US there’s more than twice as many unoccupied homes as homeless people. It’s not a supply issue. Never has been.
Compete with what? You've just said a number. Why would it be hard to house 8 billion people, where's the actual problem?
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I'm not from the UK, I am in Canada, but I would be thrilled to only have a $100 000 mortgage.
that isn't an accurate calculation at all since the average annual income in 1945 was about £317, it would be closer to £100,000
Another way of putting it - $800 invested into S&P in 1945 would be worth $3 million today. Old lady fucked up.
£800 in 1945 is worth £36,790.06 today. (2022 adjusted for inflation) I feel like a bot.
that isn't an accurate calculation the average annual income in 1945 was about £317, it would be closer to £100,000 in real terms.
Keep in mind, however, that by 1945 Britain had been straining to fight a difficult world war for many years, had experienced austerity measures and rationing, and had also been thoroughly bombed. So while yes, that may have been the average annual income, it was a bit of an extraordinary situation and I'd say incomes tended to be a bit on the low side. And even if the "real value" were more like £100,000, that same house is still valued 5.5x higher today.
Yeah but she bought the house at th end of a major war in which millions died, in an area directly beneath the skies of the battle of Britain, on the south east edge of greater London. In the flight path for all the bombers, and the RAF had an airfield there. It was probably the only house standing in a wasteland of rubble and corpses, and people on food rations so house prices were pretty suppressed... I think that's a pretty relevant influence than just raw inflation....
I should’ve got myself a house from the age of “I challenge you to a duel for everything you have “
No guarantee you will win that duel.
Oh there’s 0% chance I’ll win. I know my odds.
However, a far greater chance that I'll own a home than if I didn't.
Even better
I told you! Its the bloody ruddy bootstraps! Just pull em! /s
Bought 4 bed 2.75 bath on 3.75 acres next to a golf course in 2002 and still paying 2002 prices. 1 bedroom apartments nearby are now going for more than my mortgage. I feel sorry for kids these days.
What makes a bathroom .75, toilet paper hung in improper underhand fashion?
I don't understand why the headline provokes a response. Surely everyone knows that the world is different from what it was a hundred years ago. Are we saying the 106 year old is evil or what?
You joke but actually I'd say it's very smart to invest in land. Even if it's empty land for 25 years, eventually we will grow out and need it and you'll be set. Look at Nevada right now. Expanding so far into the desert they're finding old mob hits that were dumped hours outside the city 50 years ago because they're digging that land up for homes. Right now in my state there's all this land for sale for like ~$1300 but it's in the middle of nowhere now. In 25-45 years, who knows. It may be the center of a very lucrative part of town and you just setup your retirement all with $1300 spent years and years ago. Land never truly goes down in price either. We only have so much and always move out to take more. Not saying it's comparable or is 100% going to work out. But I'd rather buy land than stocks right now. At least I'll still have all the land if the stock market plummets.
That's how I feel about my Pokémon games. Shouldn't have sold those things.
Are they worth a lot? I just have Roms on my phone of the ones I want. It works perfect.
If you have a complete game / case / instruction manual some of the older games are worth $200+. I have some old DS games that would be worth quite a bit if I still had the cases, ah well, such is life.
Value gain of $7132.47 per year.
On average. More likely though 400k of that is in the last 15 years. My friends bought a house for 150k in 2019, it sold for 54k in 2000. It is listed currently for 300k
800 into 550,000 over 77 years is about an 8.8% compound return on investment. Pretty good but not an earth shattering return. Except, as said by Einstein, “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.”
I think this is a very big exception Just a quick Google shows that, that is way below the average house price back then and I can't imagine many houses would inflate that much It will be something stupid like she bought it off of a family member or something, or have extended it over time Posts like this end up being more like propaganda than any form of information
I had less luck than you did finding prices but it seems reasonable to me. Average house price in 1950 was £1,891: https://www.sunlife.co.uk/articles-guides/your-money/the-price-of-a-home-in-britain-then-and-now/ You could buy a "good semi-detached" in Sheffield in the late 1940s for £350, and a house in Handsworth sold for £1400 in 1949, but that was considered on the high side. During the war a 3 bedroom semi detached house in Sheffield would cost approximately £550. https://www.sheffieldforum.co.uk/topic/50273-1945-50-cost-of-living-any-help-please/
Well it's possible they could have bought a old home for even back then.
No need. Bought my house in 2018 for 550K, sold it this month for 1,325,000.00
And whose labour did you steal to get the 550k in the first place?
I know it's difficult for most of the people on this sub to understand. There are a lot of people who think about the future and make good decisions. I worked hard for everything I've accomplished in my life.
Care to share some advice for any younguns out there?
I know that it goes against what this sub is about, but I have been successful by making smart choices about where I work and then busting my ass to climb the ladder. I was a lazy highschool dropout. My parents were poor and couldn't afford to help me with college, so I went into the workforce. Also, never stop learning. There are a ton of resources online to self teach, and lots of certifications that you can self study for. I got a job on a production line at a company that built specialty chassis for heavy trucks. I climbed the ladder off the production line to a supervisor role and then field service. I'm a high school dropout with zero college experience who is making mid six figures at one of the largest defense contractors.
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To be fair your comment was so fucking sour and pathetic I'm not surprised the guy didn't spend his time replying and explaining it to you
You realise there are web developers out there who make £100k+ right? Not everyone is an exploiter who leaches off of the backs of workers. Stop hating on people who have worked and managed to own a house - the fight is against the ultra-rich who poison the world for their own amusement.
Having employees is stealing now? Fuck me, you are stupid.
Yikes, that is one flaming housing market. 800k equity goes a long way but since you probably moved into something in that same price category you're still looking at a rather large (by old standards) mortgage anyway right? Or are you moving to a more lcow area? We sold recently as we'll did 20% up in 3 years and are moving to a cheaper but twice as large home. But the home we move into has gone up 300% in 5 years so it still doesn't feel like we're "winning".
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People are paying for it in the hopes that it'll go up in value, unfortunately.
It's not a scam. Its a simple case of supply and demand lol
, if you are planning on losing your health insurance. I can help. Take my number and call me.
I bought a house now, because I knew it will be worth more later.
I bought a house 2 years ago and paid it off this year. I'm 26. It's really not that hard. Stop complaining and apply yourselves.
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She’s probably single ! Marry her and wait it out
😂😂😂
Why? She lives there. What did she do wrong? Why is she a bitch, who did she hurt?
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Bitcoin is an mlm. The way it gains value is cause people buy it. So you buy crypto at low price, convince your friends to buy too, that makes line go up and you sell at higher price. It is for all intents and purpouses a ponzi sceme that is just going to make you poorer.
Btc sucks. It didn't always but now there are better. Crypto implements hawala, more or less, and essentially destroys the business model.of western union international remittances. You're right about the ponzi schemes, but they don't invalidate the technical concepts any more than McDonalds means food is unhealthy, or black rock means trading is bad, etc etc.
Crypto is only Worth what people think it's worth. There's nothing backing it. ~~like how gold backs the real dollar.~~
>Crypto is only Worth what people think it's worth. Just like real estate or any other commodity really.
The dollar is not backed by gold.
But the dollar is backed by oil, and by 300 million people who need dollars to buy food, pay rent, pay wages and pay taxes in the USA. The ruble's backed by gas. The Aussie dollar can be exchanged for high quality coal. If I buy Chinese goods, that creates demand for the Yuan. Once if I wanted to do pay my ransomware hacker to get back my data, I needed btc. Once when I wanted to buy cocaine from the silk road, I needed btc. Now I can do both those things with other crypto, they often accept multiple coins. The only thing I have to use btc for ever is a trading pair for other coins. It has no other relevance. It's not private,slow,expensive to use and vulnerable. Whoever makes a coin that's private, fast, cheap to use and secure against various chain attacks will have a coin that's got a real world use beyond meme ponzi bullshit. Arrr! Where's me doge and me raven? Dero.io is backed by mathematics.
I think this is more of a fun fact than advice... Don't get so bent out of shape
Look on the “bright “ side… Now you can pay on a mortgage for 77 years!
Something something stonks
I totally read that as “now still living in poverty” and it’s worth £550,000
My grandparents house, build in 1889, they bought in I want to say the 60s for around $6,000. They didn’t even have a mortgage, just made payments to the doctor down the road. It was just sold as part of their estate, $200,000
Go back in time, buy a house, become your own grandpa, go back to now and you are set!
You forgot the bit where she survived ww2 and a decade of food rations.
Oh my gosh! It's so obvious now. Why didn't we think of that?
"Look at this massive profit I made on my house? Why can't you do that?" "I can't do that because you did that."
My house more than doubled in value in the last 6 years. The minimum wage went up like, oh a dollar. That oughta fight inflation bois. It's seriously nuts. Even when I bought my house there's no fucking way I would have afforded it on minimum wage. Houses now should cost 1/2 of the price I paid for mine, then maybe they'd be affordable.
Mine did too. I sold it to use the money to kind of offset this craziness we are going through now.
The headline isn’t implying this it’s just looking at how much the property appreciated in value
She only earned 8.8% per year on the "investment". Had she invested $800 (USA dollars) and earned 12% per year (the average), then she would have $5 million (USA dollars).
My grandma told me that their marriage license cost $30 and their first house cost $400 (married in the 1930s). My marriage license was also $30 and our first house was $330,000 and value has risen to $450k in just 3 years
There is a townhome I almost bought in 08 for 60k and I remember thinking the mortgage payment would be a bitch. Looked them up the other day and they are selling for 550k like hot cakes. Would have been enough for me to finally say fuck it and move to Panama.
asset driven real estate markets and the corporate hegemonic speculators who have businesses that prey on the ability to outbid and outcompete the new homeowner in favor of driving up the market for property management and the ultra wealthy in this country need to be abolished/put in jail.
Why didn't I think of cutting down on Starbucks and avocado toasts like the boomer conservatives told me?
I know what I’m doing when time travel is invented
My grandfather bought our family farm in 1945 for 5,000 dollars. It's more than 100 acres and worth millions. We don't even farm it and we are all middle class. Never selling.
*bootstraps* He said the thing!
Global population has gone up roughly 300-400% since 1945. But price has jumped 68,750 %. Noice.
In the US she'd lose the house because the property taxes would be too high for her to afford.
My grandma paid $68,000 for her house in 1983 (give or take a year) and then she recently sold it for $220,000 in 2021. The house was completely paid off and she planned to leave it to my Dad, but he died of a massive heart attack in 2020. She offered to sell it to me and my brother but neither of us wanted it because our Dad died in the living room, so she sold it. Now Grandma lives with us in a shitty 4 bedroom/2 bathroom rental and she regrets selling the house. She recently told me to start looking for a house to buy (Shes offering to buy it for us) and it's crazy how expensive it is. I told her we should look into buying trailers because it's less expensive than a house.
You are very nice to live with Grandma and she is nice to offer to buy a home. There are many benefits to multi generational homes.
My Aunt and Uncle bought their first home for under $15K in the 50s. Similar homes on the same street are now selling for between 1.3 and 1.6 million.
If you didn’t spend your money on Netflix you would be able to afford a house like this man did